5 Habits keeping You Poor

In this video, I will share with you 5 habits keeping you poor so that you can avoid these mistakes and realize financial success in your life.

Habit 1: Using credit cards
Habit 2: Spontaneous Shopping
Habit 3: Not Budgeting
Habit 4: Not Investing
Habit 5: Not tracking Your Expenses

#FinancialWisdom

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DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.

[midlifecrisis]

“Assets feed you, liabilities eat you”

Robert Kyiosaki

[tdog]

Got divorced 10yrs ago. Goodbye money problems.

[ErrorPagenotFound-igcy]

1. Pay yourself
2. Pay off your bills
3. Stick to a weekly budget
4. Leave the credit card alone
5. Any excess money you have leftover, send it to either your savings account or use it to pay off extra debt.

It’s really not that hard.

[alywi]

I’ve been tracking my spending for almost 8 years. I’ve saved so much money. I have been able to afford trips to Spain, Mexico, and even paid for my wedding without using credit. I have emergency savings too.
Gail Vaz-Oxlade is the budgeting queen of Canada.

[danicegewiss]

Every week I budget $80 for gasoline, $40 for clothing ($20 for me, $20 for him), and $120 for groceries. If we buy a clothing item on the credit card, I pay the money I budgeted out to the credit card. If I have gas money remaining from the prior week(s), we treat ourselves. It works wonders.

[timelessmusicfamilymusic]

Bad habits I refuse to buy👎
1. Alcohol🍷🍺
2. Drugs💊
3. Cigarettes🚬
4. Gambling🎲/lottery tickets🎫
5. Cable📺

[bubba]

If you pay your credit cards off straight away you will not have a problem. I get about $600 of free groceries a year through my credit card. When in use it, for groceries mainly, I pay it off as soon as I get into the car. Properly managed and used wisely credit cards can be rewarding.

[ossen]

*Don't see problems - see endless possibilities ad solutions*

[knowbodiesfull]

Here is how I control my spending:

On a piece of paper, I write down every forthcoming expense that I have for each month, and the amount it will cost. I list rent, auto insurance, car note, utilities, phone, and credit card bills. I try to use my credit cards only when I have to, and to ensure that I don't use them, I put them in a jar for safekeeping and leave them at home. And what I am going to do each shopping trip is to make a list of what I need and buy only those items. Also, I try to use cash as much as possible. No overspending, either. That list I post on my refrigerator is enough to remind me. And I remember to keep some spending money for myself. I don't go clothes shopping very much, except for must-haves like underwear and socks. I buy one shirt and one pair of pants every couple of months. And I keep driving to a minimum. I still drive to and from work, to the market whenever I need to, and to see my girlfriend on the weekends. And no going out for lunch either - I make my lunch the evening before and take it to work with me the next day. Those trips to the fast-food and carry-out places were really killing my wallet!

[marthashiimi]

Boyfriends and girlfriends really waste money😣

[bluewhalegale]

Nice. Tried to save here. Didn't use electric lights beyond the few minutes it took to get ready for sleep after returning. Took bath in water bucket or sponge bathed. Didn't use phone. If had coffee out, it was a meal replacement. Tried to make sure of having one warm healthy meal a day. If possible, bought discount mens clothes because female clothes cost double or more, wore shoes with holes, tried to get up early to walk, and did manage to save 50-75Percent of after-tax after work-expenses, didn't go to doctor unless so ill/injured could not function and ...if I travelled home or did stop over for a small vacation to recoup, I made sure the plane ticket value was more than covered by price differential of bulk purchases of beans and things that were expensive in the country i lived away from home but every two to three years an emergency, some weird combination of circumstances would wipe all out. So finally after a couple decades or so of trying, I got exhausted...and after obvious criminal incidents (possibly these happened before when those weird situation combos occurred but i had not made the connection with criminals) against my family. One has to wonder if we weren't mistaken for somebody else as it seemed like a vendetta with multiple breakins and vandalism..even going so far as animals were injured. Very sick and sad. Now it is into decade three of this...and finally, have given up, but it is no win for the vandals...if you drop a truck on a caterpiller and you destroy it...no shame to the caterpillar never to become a butterfly and hardly a win...and if after crushing it with the truck and it still lives, sort of, and its reactions are that of a defective...and the truck thrower thinks it is somehow proving the catepillar is defective....it is the truck thrower who is a fool, game over...no matter how many times the catepillar us tested..the truck thrower lost...it should not have been a game or character/strength test but since the truck thrower played it, they lost....it is not a win for a muscular body builder to try to rough up old women or children, for shame...you lost a game that should not have been a game...and as for the finances, criminality and ignorance, ignoring what is happening to your fellow community members...and making excuses about inferiority when they have been crippled (took more than a couple decades, near three decades, not even a couple rounds of cancer, or losses from radiation/earthquake did it, nor disappointments and hardships with life, no it took a truck in the form of bizarre activity and disruption of communications when downed for me to give up into bad habits...to hell with trying for any future, it will only be vandalised away. Have not completely given up...still no phone...but i would at least like a proper meal and sleeping place since trying to save to go back to uni or help mither with property or anything else will simply see it wasted and vandalised (new grammar form?) away. Society pay attention to the causes you contribute to. Individuals must take responsibility but consider things do not happen in a vacuum. Don't assume so negatively and care and help your neighbors, don't just ignore and make up excuses that somehow they are inferior and have no right to a cup of tea...you have no f**king idea what they have been through.

[jasonsmith]

buy what you NEED!! NOT what you WANT!!!

[V.D.]

Tracking your expenses is the best advice. I do it for a few years now, and the budget looks better than ever.

[miriamendres]

Have started tracking my money again. I first started 25 years ago, renewed my interest after going to my bank for a loan and really not knowing how much I was spending on each area. This time I am doing it in a spread sheet. I have divided the grocery into the food groups and there are other groups related to food eg eating out. I can now see that around 1/3 of my grocery bill is for fruit and vegetables. Other sections include transport, phone and clothing, etc. Make the sections suited to your own lifestyle. I started the spread sheet 12 October 2019.

[mistersz]

Saving will save your money, but it won't make you money.
investing will make you money from money you have (or not have = leverage), but it also can lose you money.

the key is save money and learn to invest not to loss.

[PracticalInspiration]

Budgeting is fundamental. It's crazy people do this more often

[tkid]

I had money, then I got married and whats hers is hers and whats mine is hers

[kevinvandenoetelaar]

I'm doing 4 out of 5 and I'm still poor. Good advice tho for most people. I should start investing my savings..

[michaelg]

It's not just what you say, but the way you say it. You ability to comunicate to pay check to pay check guys like myself, in language tha makes sense is priceless. And, I love your grophics.

[Chinunit]

Nothing wrong with credit cards, as long as it can be paid in full within a month.